NZD/USD last deals at $0.6592, a touch lower...>

KIWI: NZD/USD last deals at $0.6592, a touch lower on the day, amidst notable

lack of progress in Sino-U.S. trade talks reported over the weekend. Elsewhere,

NZ food price index printed at -0.1% M/M vs. the prior +0.5%.

- Friday's Asia-Pac session saw the rate advance on the back of hopes that

Sino-U.S. trade talks may bring a breakthrough. In the absence of progress, the

pair declined post-Tokyo fix. NZD/USD stuck to a 22 pip range thereafter, with

investors seeking clarity re: U.S.-China trade matters, and eventually closed a

handful of pips better off.

- Worth reminding that RBNZ's Bascand said on Friday that the central bank needs

a GDP growth rate of 3% to meet its inflation and employment targets.

- Above the nearby trendline resistance, which kicks in at $0.6606, would expose

the May 7 weekly high of $0.6630. Conversely, bears look for a dip through the

Apr 24/25 lows of $0.6582/80 towards the May 8 post-RBNZ low of $0.6527.

- NZ focus turns to REINZ house sales due tomorrow, ahead of Tuesday's

pre-budget speech from the Finance Minister. BusinessNZ m'fing PMI and PPI

figures, due Friday, will conclude NZ data releases for the week.